Mumbai, Sep 29 : Diversified firm Adani Enterprises today said it has entered in a joint venture with Singapore- listed marine fuel supplier firm Chemoil, for supplying marine fuel and products at the Mundra port.
In a filing to the Bombay Stock Exchange Adani said the said JV firm Chemoil-Adani Pvt Ltd would supply marine fuel at the Mundra port. The company will lease storage terminal facilities from the Mundra Port Special Economic Zone.
Adani Enterprises is engaged in the development of Mundra port, which is located in Gujarat, and is the largest private port in the country.
"This venture is a significant opportunity for Chemoil to make an early strategic entry into India's promising marine fuel market," Chemoil Chairman and CEO Clyde Michael Bandy said.
Shares of Adani Enterprises closed at Rs 499.45, down 981 per cent on the BSE.
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